I actually empathize with Charlie’s comments, and while I don’t agree with him completely, I think he’s more right than wrong.

I think he takes the view that trading Bitcoin/crypto is a massive waste of time and is a drain on productivity among young people across America. And he’s right.

Young people all over the world became part-time day traders in the last couple years, and in aggregate I don’t think they have much to show for it. That time and effort could have been deployed on far more productive things.

However, as we know, one of the reasons people are attracted to speculation is because they feel like they can’t keep up by holding their wealth in dollars. This is where I think Charlie is wrong.

Bitcoin does have useful properties that people all over the world can benefit from, but it isn’t a life hack that many think it is.

In the long-run, one’s wealth will be less related to the price they bought Bitcoin at, and more related to the value they added to the world.